Global brokerage CLSA reiterated its ‘buy’ call on Tata Motors with a target price of Rs 450.
According to the brokerage, Jaguar-Land Rover (JLR) started outperforming its peers in China and Europe and is only underperforming the US market now.
While the brokerage firm expects a tough first half of FY22 for Tata Motors, it believes the free cash flow and deleveraging should continue in the second half of FY22 for the company.
Watch the accompanying video of CNBC-TV18’s Nimesh Shah for more details.
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